A month after Overstock.com introduced it purchased Mattress Tub & Past’s model out of bankruptcy, the corporate has dumped its title and morphed its web site and app.
On Tuesday, Overstock’s web site relaunched as BedBathandBeyond.com, a transfer that merges Overstock’s on-line enterprise mannequin and merchandise classes with fashionable branded merchandise favored by Mattress Tub & Past buyers.
“All of Overstock’s classes will transition over and new merchandise will even are available in,” Jonathan Johnson, CEO of Overstock, stated in an interview with CNN.
The relaunched web site touted a “Welcome to a much bigger, higher past” welcome message, providing offers of an additional 15%-20% off bedding, bathtub and furnishings objects.
“Since this deal was introduced, now we have added over 600,000 new merchandise to the location,” stated Johnson, including that loads of the brand new merchandise “are the name-brand merchandise that folks have all the time purchased and anticipated to purchase on the outdated Mattress Tub & Past.”
(OSTK), which sells furnishings, dwelling furnishings, bathtub, lighting, rugs and an array of different merchandise on-line at discounted costs, acquired Mattress Tub & Past’s title, mental property and digital belongings in June with a profitable bid of $21.5 million for its belongings.
Johnson promised newness blended with familiarity for Mattress Tub & Past prospects within the newest digital-only model of the retailer.
“It’s going to have the identical nice mattress, bathtub and kitchen objects however it’s going to even have a a lot larger past,” he stated. The “past” features a wider array of linens, cookware and small home equipment.
Followers of Mattress Tub & Past’s 20%-off a single merchandise “Big Blue” coupon might be considerably upset that it’ll not be resurrected.
“I assume what I might say in regards to the coupon is that if you happen to like Mattress Tub & Past coupons up to now, you’ll like new Mattress Tub & Past cell app we might be rolling out with launch in US,” stated Johnson.
He stated buyers can avail themselves of particular offers and promotions by means of the brand new app, together with a 25% off coupon for downloading the app and making purchases. Former Overstock.com loyalty program members will get a 20% off coupon and their membership transferred to the rebranded loyalty program.
BedBathand Past.com can be reinstating as much as $50 in unused loyalty rewards factors for energetic members of the previous Mattress Tub & Past loyalty program. “These rewards factors had gone away within the chapter,” he stated.
“We’ll nonetheless offer coupons even when they’re not as massive because the 20% coupon that folks anticipated and albeit demanded from Mattress Tub & Past,” stated Johnson.
What’s not coming again — a minimum of within the foreseeable future — are bodily shops.
“By no means say by no means,” stated Johnson. “We’re centered on this transition now and we like our asset-light enterprise mannequin…. However by no means say by no means. We’ll look, we could check, however proper now, it’s not within the present strategic plan.”
Mattress Tub & Past announced in April it might shut all 360 of its shops and exit of enterprise.
One change that Overstock is considering is the corporate ticker image.
“We predict the company title, which is Overstock and ticker ‘OSTK’ might be not a match anymore. We’re determining what to do. We’re unsure we wish it to be the “BBBY” tainted ticker of a meme inventory gone bankrupt. We’ll discover the suitable title in time.”
Mattress Tub & Past’s return comes shut on the heels one other iconic retail model’s comeback.
Infants R Us, which went out of enterprise in tandem with its mum or dad firm, Toys R Us, in 2018, opened its new US flagship store final month on the American Dream Mall in New Jersey.